10 Reasons To Invest In A Pension

FBD Insurance have a handy 10 step guide as to why investing in a pension, no matter what your age, is a good idea.Whatever your age or circumstances, it’s forever an honest plan to arrange for your retirement.

  1. Save Tax
  • On pension contributions
  • On any investment growth
  • On income in retirement (within limits)
  1. Almost 70%

Your income could drop by almost 70% in retirement as the maximum State Pension (Contributory) is €12,652 a year but the average wage is €38,594 a year.

  1. 30 Years?

You may would like associate degree financial gain for up to 30 years or a lot of once you retire. This might quantity to the maximum amount as a 3rd of your life, therefore it is sensible to save lots of currently.

  1. Age 68

If you do qualify for the State Pension of €12,652 a year, you could be 68 before you receive it as the qualifying age is changing from 65 to 68. The average wage is €38,594 so that’s a potential shortfall of €25,942 after the age of 68.

  1. Start Early

Starting pension contributions early can have a significant impact on your retirement fund.

  1. 40%

Higher rate taxpayers can potentially benefit from up to 40% in tax relief on every €1 saved. A €100 contribution only costs you €60. If you pay tax at the standard rate, you can benefit from 20% tax relief.

  1. Investment

A pension can give you access to a wide range of investment funds which can give your money potential for growth over the longer term.


  1. Maximum €200,000

At retirement, you may be able to take a retirement lump sum, tax free, subject to a limit of €200,000.

  1. Investment Choice

Choose from a large vary of assets from international investment specialists.

  1. Start Now

The sooner you start the better. Even if you’re older it’s not too late. You can claim tax relief on a better proportion of your earnings, thus there should be time to catch up!

Contact FBD Insurance today to find out more about their pension plans as well as Home Insurance & Car Insurance and start planning for your retirement.

Warning: The value of your investment will go down yet as up. Warning: If you invest during this product you will lose some or all of the cash that you just invest. Warning: If you invest during this product you may not have any access to your cash till you retire.

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